Specialist traders work at the post that trades Intercontinental Exchange Inc. on the floor of the New York Stock Exchange October 26, 2015. REUTERS/Brendan McDermid

ICE said the deal, which includes $3.65 billion in cash and $1.55 billion in ICE stock, will help build on ICE’s market data business by adding technology platforms and increasing new data and valuation services.

ICE, valued at about $27.5 billion, said the deal to buy IDC, which provides financial data to banks, money managers and hedge funds, was approved by the boards of both companies.

The exchange operator said it expected cost synergies of $150 million, which will be largely completed within three years. The deal is expected to close at the end of this year.

ICE’s shares were down 2 percent at $243.78 midday on Monday, reversing gains after touching a record high of $254.50 in early trading.